Primary producers in the Roma, Tambo, Emerald and Charters Towers districts have the opportunity to develop skills to assist with family farm succession and business transition at free Rabo Client Council-hosted information sessions.
The practical Business Transition and Succession Planning information sessions will be held in mid October.
The initiative has been spearheaded and funded by food and agribusiness banking specialist Rabobank's Rabo Client Council, a group of the bank's farming clients who volunteer their time implementing programs that contribute to the sustainability of rural and regional communities.
The complimentary, interactive sessions provide practical information, such as why family and business communication can be difficult and how to improve it, what makes a meeting work and how to take account of differing family goals.
The information sessions – which will be limited to 30 participants each and are not restricted to the bank's clients – will be presented by content and facilitator partner, Transition Partners director Jim Benson.
Rabobank acting state manager Brad James said, due to the "inherent complexities and challenges of generational transitions", it was crucial for family farming businesses to develop skills in business transition and succession planning.
Mr James said navigating this transition extends beyond legal and financial consideration – "it involves creating strategies and plans to preserve the core values of the family farm and ensure the business's long-term, ongoing success".
The session content includes how to start the conversation about business succession, Mr James said. "During these sessions, participants will explore essential elements for organising their initial meeting, where they can discuss next steps related to management, business, property and wealth transition. Additionally, practical tools will be provided to assist in the planning process, resolve family and business conflicts, and navigate family-related issues," he said.
"The information sessions create a supportive setting for couples and family members to attend together. They offer farmers a unique chance to step away from their daily work commitments and participate in shared learning."
Mr James highlighted the importance of proactive planning in ensuring a smooth business transition. "Initiating succession planning early is recommended, as postponing the process and necessary discussions can heighten potential conflicts due to differing individual expectations," he said.
Rabobank's Rabo Client Council network is focussed on developing meaningful grassroots initiatives to support key themes focusing on agri education, rural wellbeing, sustainability, adaption and creating rural/urban connections.
Southern Queensland Rabo Client Council chair and Cecil Plains cotton grower Stuart Armitage said the information sessions aimed to empower primary producers by "imparting skills and expertise related to business transition processes".
"And they provide producers with key tools to help develop continuity plans, ensuring the prosperity of family farming enterprises across generations. Additionally, this positive impact extends beyond individual farms, benefiting rural and regional communities and enhancing the resilience of the local farming sector."
"If you're interested in attending the session, keen to meet other progressive farming families and develop new skills, confirm your place before the sessions are fully allocated."
Information session dates and locations are:
- Monday, 21 October 2024 – 8:30am – 2:00pm (Roma)
- Tuesday, 22 October 2024 – 8.30am – 2.00pm (Tambo)
- Wednesday, 23 October 2024 – 8.30am – 2.00pm (Emerald)
- Friday, 25 October 2024 – 8.30am – 2.00pm (Charters Towers)
To register to participate, click here
Morning tea and lunch will be provided.
